MONTANA
ActiveMONTANA has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €182k and a net result of €29k. Equity is growing by ~9.7% per year across the filed fiscal years. Its solvency ranks better than 86% of 688 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
84
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability83▲+4
Solvency99▲+14
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15k at 30 days acceptable
Liquidity short (current ratio 0.74 against 0.36 in 2024; short-term debt: 26.4% and cash: 9.8% of total assets), and 26.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
73.6%
Return on assets
11.7%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Sector 55
higher
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
27 d late
2023
50 d late
2022
88 d late
2021
92 d late
2020
30 d late
2019
67 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€182k▲ 18.9%
2024 · €153k
2018: €90k
2019: €99k
2020: €106k
2021: €107k
2022: €127k
2023: €132k
2024: €153k
2018 → 2025
Total assets
€247k▼ 3.2%
2024 · €256k
2018: €215k
2019: €201k
2020: €202k
2021: €210k
2022: €235k
2023: €231k
2024: €256k
2018 → 2025
Net result
€29k▲ 38.1%
2024 · €21k
2018: €13k
2019: €9k
2020: €7k
2021: €2k
2022: €20k
2023: €5k
2024: €21k
2018 → 2025
Working capital
€-17k▲ 74.6%
2024 · €-66k
2018: €-37k
2019: €-38k
2020: €-28k
2021: €-37k
2022: €-69k
2023: €-57k
2024: €-66k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€107k-€127k▲ 18.6%€132k▲ 4.0%€153k▲ 15.8%€182k▲ 18.9%
Operating result€4k-€26k▲ 494%€11k▼ 59.0%€30k▲ 179%€42k▲ 38.0%
Net result€2k-€20k▲ 1,104%€5k▼ 74.5%€21k▲ 312%€29k▲ 38.1%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 38% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €247k
Fixed assets
€199k▼ 9.2%
Current assets
€49k▲ 32.5%
Equity and liabilities €247k
Equity
€182k▲ 18.9%
Debt
€65k▼ 36.3%
The debt ratio falls from 40.1% to 26.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€65k▲
2024 · €51k
Cash flow
€52k▲
2024 · €42k
Solvency
73.6%▲
2024 · 59.9%
Current ratio
0.74▲
2024 · 0.36
Quick ratio
0.74▲
2024 · 0.35
Debt / equity
0.36▼
2024 · 0.67
ROE
15.9%▲
2024 · 13.7%
ROA
11.7%▲
2024 · 8.2%
Interest coverage
37.10▲
2024 · 19.12
Debt
€65k▼
2024 · €102k
Debt ≤ 1 year
€65k▼
2024 · €102k
Income taxes
€12k▲
2024 · €7k
Staff costs
€63k▲
2024 · €60k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€256k€247k▼
Fixed assets21/28€219k€199k▼
Tangible fixed assets22/27€219k€199k▼
Land and buildings22€123k€115k▼
Plant, machinery and equipment23€93k€81k▼
Furniture and vehicles24€3k€3k▼
Current assets29/58€37k€49k▲
Stocks and contracts in progress3€455€393▼
Stocks30/36€455€393▼
Amounts receivable within one year40/41€36k€24k▼
Trade receivables40€10k€10k▲
Other amounts receivable41€26k€14k▼
Cash at bank and in hand54/58€182€24k▲
Equity and liabilities
Total equity and liabilities10/49€256k€247k▼
Equity10/15€153k€182k▲
Contributions10/11€19k€19k=
Reserves13€45k€45k=
Distributable reserves133€45k€45k=
Profit (loss) carried forward14€90k€119k▲
Amounts payable17/49€102k€65k▼
Amounts payable after more than one year17€0-
Financial debts170/4€0-
Amounts payable within one year42/48€102k€65k▼
Current portion of amounts payable after more than one year42€6k€0▼
Financial debts43€23k€0▼
Credit institutions430/8€23k€0▼
Trade debts44€54k€35k▼
Suppliers440/4€54k€35k▼
Advances received on contracts in progress46€502€0▼
Taxes, remuneration and social security45€19k€30k▲
Taxes450/3€11k€20k▲
Remuneration and social security454/9€8k€10k▲
Other amounts payable47/48-€362
Income statement
Code20242025
Remuneration, social security and pensions62€60k€63k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21k€23k▲
Other operating charges640/8€5k€5k▲
Gross operating margin9900€116k€133k▲
Operating profit (loss)9901€30k€42k▲
Financial income75/76B€771€769▼
Recurring financial income75€771€769▼
Financial charges65/66B€3k€2k▼
Recurring financial charges65€3k€2k▼
Profit (loss) for the period before taxes9903€28k€41k▲
Income taxes67/77€7k€12k▲
Profit (loss) for the period9904€21k€29k▲
Profit (loss) for the period to be appropriated9905€21k€29k▲
Appropriation of the result
Profit (loss) to be appropriated9906€90k€119k▲
Profit (loss) brought forward from the previous period14P€69k€90k▲
Social balance
Average headcount (FTE)9087-1.4
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Highest result since 2018net €29k ▲38.1%
Operating result €42k, net result €29k, both a record.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Equity above €150kEq €153k ▲15.8%
7 profitable years in a row build equity to €153k.
19-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 50 days late
2023
27-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 88 days late
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 92 days late
2021
31-12
Financial
Weakest financial yearnet €2k ▼75.7%
Net result drops to €2k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Equity above €100kEq €106k ▲6.9%
3 profitable years in a row build equity to €106k.
06-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 67 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, De Panne · 1 establishment unit since 1979
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Leopold II Laan 118660 De PanneGround area
324 m²
Building footprint
152 m²
Volume, LiDAR
1,405 m³
Parcel 38008A0473/00_000, Flanders · tallest building 12.9 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Leopold II Laan 11, 8660 De Panne
since 19792.016.009.396
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38008A0473/00_000 | Flanders | 324 m² | 1 · 152 m² | 12.9 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteDe Panne2.016.009.396
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HOSTELLERIE LA SAPINIERE
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Brafats
BE 0742.971.795
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Hotel Ambrosia
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Of 2,395 companies in sector 55100 we hold annual accounts for 1,517. 1,102 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded16-03-1979
Fiscal year end31-12
Activities, NACEBEL
55100Hotels and similar accommodation
55101Hotels
55102
Sources
Crossroads Bank for EnterprisesNational Bank · 47 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.